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Sirius Posts Wider Loss

Updated Jan. 28, 2004 10:59 a.m. ET

Sirius Satellite Radio Inc. posted a wider fourth-quarter loss despite a significant increase in the subscriber base. Sirius, based in New York, reported a net loss of $147.8 million, or 14 cents a share, compared with $122.1 million, or $1.74 a share, a year ago. The number of shares outstanding increased to 1.04 billion shares in the quarter, up from 77.3 million shares in the prior-year period. Wall Street had expected the company to post a loss of 11 cents a share, according to analysts surveyed by Thomson First Call. Revenue surged to $4.95 million from $685,000 a year earlier. The company said it had 261,061...